Credit Industriel ET Commercial Takes Position in Webster Financial Corporation $WBS

Credit Industriel ET Commercial purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 105,221 shares of the financial services provider’s stock, valued at approximately $7,304,000. Webster Financial comprises approximately 0.6% of Credit Industriel ET Commercial’s portfolio, making the stock its 20th biggest position. Credit Industriel ET Commercial owned about 0.06% of Webster Financial at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WBS. Praxis Investment Management Inc. increased its stake in Webster Financial by 18.6% in the first quarter. Praxis Investment Management Inc. now owns 5,418 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 848 shares during the last quarter. New England Capital Financial Advisors LLC boosted its holdings in shares of Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 311 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Webster Financial by 42.0% in the 1st quarter. HB Wealth Management LLC now owns 9,567 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 2,830 shares in the last quarter. World Investment Advisors bought a new position in shares of Webster Financial during the 1st quarter valued at about $206,000. Finally, Root Financial Partners LLC increased its position in shares of Webster Financial by 147.1% during the 1st quarter. Root Financial Partners LLC now owns 1,354 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 806 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Trading Down 0.1%

NYSE:WBS opened at $77.52 on Tuesday. The firm has a market capitalization of $12.56 billion, a P/E ratio of 12.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. Webster Financial Corporation has a one year low of $52.69 and a one year high of $77.61. The company’s 50-day simple moving average is $73.48 and its 200 day simple moving average is $70.23.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The firm had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same period last year, the business earned $1.30 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial’s payout ratio is presently 26.19%.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of recent research reports. UBS Group assumed coverage on Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.96.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.